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Here is the news which failed to please investors for unknown reason:

Halcyon Discovers New Gold Zone

Halcyon Group Ltd has discovered a new zone of gold mineralization at the Big Blow North Prospect, with drill intersections of 2m @ 7.8g/t from 31 metres and 4m @ 4.1g/t from 5 metres.

Further drilling at Big Blow North has extended known mineralisation with assays of up to 64.5g/t within an intersection of 8m @ 9.0g/t from 21 metres. Some of these results from the recently completed Rotary Air Blast drilling program have already been followed by a Reverse Circulation Drill program that was completed late last week. Halycon expect that results will be due shortly.

Halycon’s new discovery has been named Empire and is represented by a shear zone of sheared ultramafic with quartz veining that has returned individual assays of up to 13.8g/t Gold within the shallow drill intersections. Halycon interpret the orientation of the shear zone to be sub-parallel to the trends that contain the recent discoveries at Ajax and Marmont and contains previous intersections of up to 10m @ 5.1g/t from 34 metres.

Two RC holes have been recently drilled to intersect the down-dip projection of the Empire intersections with the results due shortly.

Halcyon’s objective in these Gold Exploration Programs is to define a 200 to 400 metre section of strike out of these high-grade North East- South West mineralised trends that run over several kilometres throughout the Bardoc Project. Similarly orientated shear deposits in the region such as Raleigh, Kundana and Quarters have each yielded in the order of 1 Million ounces of Gold.

- 08 Dec 2005